![]() ![]() Furthermore, a rise in the number of individuals suffering from viral and bacterial infections and the increasing participation in blood donation campaigns is positively influencing the demand for oncology molecular diagnostics worldwide. Apart from this, the escalating demand for rapid and accurate diagnosis, along with advancements in next generation sequencing (NGS) techniques, is contributing to the growth of the market. The rising prevalence of cancer on account of changing lifestyles, growing geriatric population, and the increasing trend of smoking represents one of the major factors impelling the global oncology molecular diagnostics market growth. They are also used in blood banks to identify pathogens and infectious diseases present in the donated blood samples. These diagnostics solutions find application in clinical and point-of-care (POC) testing for early detection of cancer. Oncology molecular diagnostics help perform rapid analysis and provide detailed information that is further utilized in the personalized treatment of cancer. Several tests are performed on the blood, saliva, and tumor tissue samples for detecting and measuring specific genetic sequences in the DNA, RNA, and cell proteins. Oncology molecular diagnostics identify the presence of cancer cells by analyzing their biological molecules. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.9% during 2023-2028. The global oncology molecular diagnostics market size reached US$ 3.7 Billion in 2022. ![]()
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